New York Real Estate Law FAQs

Not all defects in title are able to be spotted, no matter how thoroughly public records have been searched. For example, improperly recorded legal documents, forgery or errors in tax records may not come to light until after the purchase has been consummated.

The closing date in your contract is a “target date” for all parties. You might be ready to close early, or the process might be delayed for some reason, and close beyond the date listed in your contract.

Though it is customary in the Capital Region to forego the additional expense of conducting a survey, we always recommend that our purchase clients arrange for a survey of the property prior to closing. A survey is not only a visual aid for reviewing boundary lines, building restrictions and utility easements, it will also reveal common encroachments by existing neighbors such as fences, driveways or sheds. This is something that will not be revealed in property searches or legal documents.

If you are selling property, it is possible to arrange pre-signing the transfer documents. If you are a purchaser, most likely you will need to attend closing. Sometimes, but rarely, can a purchaser close using an appointed Power of Attorney.

Final closing figures will be provided to you one day prior to closing. On occasion, depending upon whether or not a purchaser is obtaining a mortgage loan, or other extenuating circumstances, figures may not be available until the day of closing.

Yes, as a general rule, the property being sold is expected to be move-in ready for the buyers once the closing is complete. Buyers have the right to do a “final inspection” just prior to closing, at which time the property should be vacant and clean.